Baxter International (NYSE:BAX) Issues FY 2024 Earnings Guidance

Baxter International (NYSE:BAX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.930-3.010 for the period, compared to the consensus estimate of 2.920. The company issued revenue guidance of $15.3 billion-$15.3 billion, compared to the consensus revenue estimate of $15.1 billion. Baxter International also updated its FY24 guidance to $2.93-3.01 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BAX. JPMorgan Chase & Co. cut their target price on Baxter International from $44.00 to $42.00 and set a neutral rating on the stock in a research report on Wednesday. Wells Fargo & Company lowered their target price on Baxter International from $44.00 to $40.00 and set an equal weight rating for the company in a research note on Wednesday. Morgan Stanley cut Baxter International from an equal weight rating to an underweight rating and decreased their price objective for the company from $39.00 to $30.00 in a research note on Monday, July 15th. StockNews.com upgraded shares of Baxter International from a hold rating to a buy rating in a research note on Thursday, August 1st. Finally, Evercore ISI decreased their price target on shares of Baxter International from $46.00 to $45.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $41.73.

Baxter International Stock Down 0.7 %

Baxter International stock traded down $0.28 during mid-day trading on Friday, hitting $37.14. The company had a trading volume of 3,892,882 shares, compared to its average volume of 4,264,026. The stock has a market cap of $18.93 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 1.88 and a beta of 0.57. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 1.35. Baxter International has a 1 year low of $31.01 and a 1 year high of $44.01. The business has a fifty day moving average of $34.47 and a 200 day moving average of $37.91.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the business earned $0.55 EPS. Baxter International’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Baxter International will post 2.91 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.12%. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.